Johanna L. Francis

B.A., Honours Economics McGill University
M.A., Economics McGill University
Ph.D., Johns Hopkins University

• Macroeconomics
• Open Economy Macroeconomics

Johanna Francis is an associate professor at Fordham University. She received her Ph.D. from Johns Hopkins University. She works on the impact of underlying heterogeneity on macroeconomic outcomes. Her published work focuses on the effect of housing tax policy on wealth inequality, the response of bank lending and reserve accumulation to monetary policy, and the cyclicality of capital flows.

Journal Articles
Understanding the accumulation of bank and thrift reserves during the U.S. financial crisis, with Su-Hsin Chang and Silvio Contessi. The Journal of Economic Dynamics and Control 43, pages 78-106, June 2014.

The Cost of Private Debt Over the Credit Cycle, with Dilek Aykut and Eugen Tereanu. The Journal of International Money and Finance 41, pages 146-181, March 2014.

Changes in the Second-Moment Properties of Disaggregated Capital Flows, with Silvio Contessi and Pierangelo De Pace. Economic Letters, 2013.

U.S. commercial bank lending through 2008:Q4: new evidence from gross credit flows, with Silvio Contessi. Economic Inquiry, 2013.

The Cyclical Properties of Disaggregated Capital Flows, with Silvio Contessi and Pierangelo De Pace. The Journal of International Money and Finance 32: 528-555, 2013.

Tax Treatment of Owner Occupied Housing and Wealth Inequality with Sang-Wook (Stanley) Cho. Journal of Macroeconomics. 33(1): 42-60, March 2011.

Wealth and the Capitalist Spirit. Journal of Macroeconomics , vol. 31(3), pages 394-408, September 2009.

Books and Book Chapters
Challenges in Managing Capital Flows, with M. Dailami. In Global Development Finance 2006, Washington, D.C.: The World Bank.

Entrepreneurship, Innovation and Regional Clustering, with M.P. Feldman. In Braunerhjhelm, P. and J. Wiklund (eds.), Entreprenorskap och tillvaxt, Sweden: Forum for Smaforetagsforskning, 2006.